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    Samsung SDI inks a 7-year battery deal with Hyundai Motor

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    Last updated: October 23rd, 2023 at 07:22 UTC+02:00

    On Monday, Samsung SDI officially announced that it had inked a deal to supply batteries to Hyundai Motors. South Korea's second-biggest car battery maker, Samsung SDI, unveiled that they have entered into a 7-year deal with Hyundai Motor Co. to supply batteries for EVs. As per the official statement, Samsung SDI batteries will power the Hyundai EVs that will be built in Europe from 2026 through 2032.

    Samsung SDI President and Chief Executive Choi Yoon-ho said, “We will make our best efforts to help Hyundai reinforce its global market leadership by expanding long-term partnership with the automaker by providing batteries with advanced technologies and supreme quality.

    Samsung SDI will manufacture the P6 batteries in its Hungary plant

    While the size of the deal hasn't been disclosed, according to an industry source, Samsung would supply batteries that could power about 500,000 EVs over the course of the next seven years. Besides, Samsung SDI will be supplying the sixth edition of the prismatic batteries, which is called ‘P6'.

    Notably, Samsung SDI will manufacture the P6 batteries for Hyundai Motor Co. in its Hungary plant in Europe. With this new deal, Samsung has secured Hyundai Motor Co. as a new customer in its portfolio, which is already graced by the likes of General Motors Co., Stellantis, and BMW. Besides this deal, both companies have also agreed to continue their partnership for leading research on next-generation battery platforms.

    FYI, the P6 batteries feature a 91% nickel-high NCA cathode and Samsung SDI's proprietary silicon-based anode. All this put together takes the energy density to the highest level.

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